Election for overseas losses
Postby Brightonian » Wed Aug 14, 2013 4:45 pm
I am a little concerned in case I have missed the deadline for a S16ZA claim for a client. He 'claimed' the remittance basis for 2008/09 and therefore the deadline has passed. However, I have been looking at the HMRC manuals and am now not certain. He received a tax return for that year and claimed remittance basis even though his unremitted foreign income was less than £2000. Looking at RDRM32105 it appears that he is covered by the S809D exemption. However, looking at the HMRC instruction, it says that ' if they are sent a tax return . . . they should include details of their use of the remittance basis in the return when they file it, even if the remittance basis is accessed by virtue of S809D or S809E'. Has my client simply included details of his use of the remittance basis on the return or has he, by virtue of ticking box 27 on he non-residence pages, formally claimed it? I should be grateful; for forum members' views on this matter.